It seems like we’re constantly covering the increase in car prices lately. While for some families this means less money to do fun things, low-income households might face the ultimate dilemma as they’re forced to choose between other necessities and getting a vehicle that works. This is where Vehicles for Change or VFC comes in.
This Maryland-based non-profit organization provides a workable solution that’s ingeniously simple. People donate cars, which are repaired and sold to families in need for low prices. That helps people in a tight spot avoid financing a car with mechanical problems at some astronomical interest rate, which makes a bad problem worse. The families who get these vehicles gain transportation independence through a well-functioning car financed at a low interest rate. That, in turn, allows them to get back on their feet and improve their situation.
According to VFC, three-quarters of people who get vehicles through the organization see a significant boost in income within a year.
People who donate old cars to VFC stand to gain as well. Unlike other non-profits, VFC looks for the best tax deduction for the donation, which sometimes is the full fair market value. While it won’t sell used luxury models or cars with a high book value to families in need, VFC will take such donations and sell them to the public through its retail used car lot, Freedom Wheels.
Instead of just complaining about the lack of affordable vehicle options for low-income families, VFC is doing something to improve the situation.